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TG Therapeutics Inc (TGTX) stock soared in the current market trading session; find out why

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TG Therapeutics Inc. (TGTX) stock soared by 1.71% to the price of $45.04 in the current market at the time of writing. TGTX stock previously closed at $45.83. TGTX stock traded today at a volume of 1.74 million shares. This volume was 0.28 million higher than the average daily volume of 1.42 million shares for the past 3 months. In the last 12 months, TGTX stock soared by 344.09%, however, in the past week the stock moved down by -1.86%. The stock has lost -13.67% in the three previous months, and over the previous six months, an additional 47.36%. Furthermore, TG Therapeutics Inc. is currently valued at $6.72 billion with 124.19 million outstanding shares.

Operational background of TG Therapeutics Inc.

TG Therapeutics is a commercial-stage biopharmaceutical company that is focused on designing, acquiring, and commercializing novel and unique treatments to meet the unmet needs of patients. These treatments are specifically for diseases related to autoimmunity as well as B-cell malignancies.  The leading treatments and therapeutics of TGTX include Ublituximab (for treating B-cell non-hodgkin lymphoma, CLL, multiple sclerosis relapsing form), Umbralisib (for treating CLL, marginal zone, and follicular lymphoma), and Cosibelimab (blocker of death-ligand), in addition to having these and many more medicines commercialized, the TGTX stock has an active research pipeline.

Latest approvals and investigative studies performed at TGTX

The latest approval received by the company from the FDA is for UKONIQTM which is in medical terms, an oral inhibitor containing P13K delta and CK1-epilson. The company is working on two programs that are currently in phase 3 developments which are meant for the treatment of RMS and CLL along with several phase 1 medicines in the investigational phase.

TGTX stock announced that it has achieved positive results from Ultimate I & II which were phase 3 studies that were actively controlled and were purposed for the evaluation of ublituximab.  The study ended up with results that concluded that both tests had met their primary endpoint for ublituximab; statistically reduced ARR in 96 week period.

At the American Academy of Neurology’s 73rd Annual meeting, TXTG will be presenting the results of this study on 17th April 2021. According to Lawrence Steinman, MD, Zimmermann who was the global chair for Ultimate I and II stated that the results of the studies reduced the relapses in the patients as well as reduced the inflammatory activity. The studies also reduced lesions in the brain and chances of disability progressions had a low rate in RMS patients when treated with ublituximab.

Future prospects of Ublituximab

The studies tested the efficacy of infusion activity of 450 mg Ublituximab one hour every six months. The results were conducted under special protocol assessment that was made with the FDA. The next aim is to use the results of this study and its efficacy to push for a Biological License submission for ublituximab. This will be targeted for 2021’s third quarter.

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